PGIM Real Estate Leases 39565 SF To Yelp At 11 Madison Ave New York For $95/SF
11 Madison Ave, New York, NY, 10010
$95
$95/SF
Building Size
39,565 SF
Asset Type
Office
Closing
Aug 8, 2017
About this deal
AI
The property involved in this transaction is located at 11 Madison Ave, New York, NY, 10010. The asset is situated in the New York market, covering a total area of 39,565 square feet. The rent per square foot for this property is $95.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Landlord: PGIM Real Estate
- Tenant: Yelp
- Landlord's Representative: David Kaufman - Lee & Associates, David Kaufman - Atlanta Fine Homes Sotheby's International Realty
The lease agreement features Yelp as the tenant, while PGIM Real Estate serves as the landlord. The transaction involves notable representation, with David Kaufman acting on behalf of the landlord through two agencies in this deal.
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
166978.95%
Cash-on-Cash
-47723.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93